Saudi Arabia’s Crown Prince Mohammed bin Salman announced the “Saudi Arabia’s Partner Program” with the private sector during a virtual meeting with a number of ministers, as well as senior businessmen and heads of major companies in the Kingdom.
The launch of the new program was meant to strengthen the partnership with the private sector in the Kingdom.
Crown Prince Mohammed bin Salman says the local private sector will invest 5 trillion riyals ($1.3 trillion) between now and 2030 as part of new program to help diversify the economy.
The private sector investment is part of the 12 trillion riyals worth of investments in the economy planned by 2030, Prince Mohammed said in a televised speech.
The total investment that will be pumped into the national economy is 12 trillion riyals until 2030, and this does not include government spending estimated at 10 trillion riyals over the next ten years, and private consumption spending expected to reach 5 trillion riyals until 2030, so the total of what will be 27 trillion riyals ($7 trillion) will be spent in the Kingdom of Saudi Arabia over the next ten years,” the Crown Prince added.
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